LatinNews Daily - 08 January 2019

In brief: Argentina

* According to an official statement, Shell Argentina has announced to the Argentine government that it will begin the development phase of its large-scale oil and gas exploration process in the Sierras Blancas, Cruz de Lorena, and Coirón Amargo Sur Oeste blocs of the Vaca Muerta shale gas deposit, in the province of Neuquén. This first phase of development consists in drilling and infrastructure expansion with the aim of increasing production and processing capacity from the current 12,000 barrels per day (bpd) to 40,000 bpd by 2021. Production has the potential to reach over 70,000 bpd by the mid-2020s according to Shell Argentina.